Pfizer Inc (NYSE:PFE) Gets Approval For Menopause Drug

Posted by Lynn Eisler October 6, 2013 0 Comment 2602 views

The U.S Food Drug Administration has approved Duavee, Pfizer Inc (NYSE:PFE)’s menopause drug. The company says that this drug will help in reducing hot-flashes and have lesser side-effects than existing hormone replacement therapies.

FDA approval

On Thursday, the FDA said that it had approved the drug to be used by women suffering from moderate-to-severe menopause symptoms. It is also used in preventing osteoporosis that arises post menopause. In this condition, there is bone mass loss which increases fracture risk.

Pfizer Inc (NYSE:PFE) was developing this drug in conjunction with Ligand Pharmaceuticals. It is a combination of bazedoxifene and conjugated estrogens that are found in Premarin, the company’s menopause drug.

Friday’s trading session

In Friday’s trading, Pfizer Inc (NYSE:PFE) rose by 0.23%. The shares opened at a price of $43.65, climbed to an intraday high of $44.25 and dipped to a close of $43.08. Approximately 6.34 million shares were traded on Friday while an average volume of 3.62M shares were traded over 30 days. The 52-week low of Pfizer Inc (NYSE:PFE)’s shares is $19.68 and its 52-week high is $59.00. Pfizer Inc (NYSE:PFE) has a market capitalization of $4.21 billion.

About the company

Pfizer Inc (NYSE:PFE) is a global, research-based bio-pharma company. It has 5 business segments: 1) Primary Care; 2) Specialty Care and Oncology; 3) Established Products and Emerging Markets; 5) Animal Health & Consumer Healthcare, and 5) Nutrition. Pfizer Inc (NYSE:PFE)‘s diversified international healthcare-portfolio includes human & animal biologic and small-molecule vaccines and medicines, consumer healthcare products and nutritional products.

Pfizer Inc (NYSE:PFE)’s Animal Health business unit is engaged in the discovery, development and sale of products that are used in the prevention & treatment of different diseases in companion-animals and livestock. On 1 August 2011, Pfizer Inc (NYSE:PFE) completed the Capsule business sale.

About Lynn Eisler

Lynn Eisler is a national news reporter focusing on economic issues, data analysis and the financial health of state and local governments. Lynn has been honored with the H.L. Mencken Award for Investigative Reporting, the Champion of Justice Award for reporting on the drug war, and the John Hancock Award for business reporting. Lynn was also a Knight Medical School Fellow at the University of Michigan.

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